Hon Hai Precision SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Hon Hai Precision analyses the brand by its strengths, weaknesses, opportunities & threats. In Hon Hai Precision SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Hon Hai Precision to benchmark its business & performance as compared to the competitors. Hon Hai Precision is one of the leading brands in the consumer electronics sector.
The article below lists the Hon Hai Precision SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hon Hai Precision SWOT Analysis:
For Hon Hai Precision, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Hon Hai Precision Strengths
The strengths of Hon Hai Precision looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Hon Hai Precision :
1.World’s largest manufacturing base (Foxconn) 2. Vertically integrated business model making it the shortest supply chain 3. Manufactures almost all popular electronics products like iPhone, iPad, Kindle, Xbox, PlayStation, Wii etc 4. Major presence in China implying easy access to Chinese supply chain.
5. Has factories spread around the globe at Asia, Europe, Mexico, South America.
Hon Hai Precision Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Hon Hai Precision SWOT Analysis:
1.Limited designing skillset compared to bigger players 2.Limited market share and low global presence
Hon Hai Precision Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Hon Hai Precision SWOT Analysis:
1.Increasing new generation electronics gadget (like smartphones, tablets) sales 2.Major electronics brands shifting to outsourcing of manufacturing to leverage on economies of scale 3.Opportunity to turn to sophisticated high margin components
Hon Hai Precision Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Hon Hai Precision are as mentioned:
1.Negative publicity due to worker suicides and reports on labour ill treatment 2.Increasing competition from competitors 3.Labour issues and rising costs in China
Hon Hai Precision Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Hon Hai Precision:
Most dependable partner for joint-design, joint-development, manufacturing for many electronics companies
Hon Hai Precision STP
Electronic products manufacturing, assembling
All electronics companies
Most reliable manufacturing & assembling partner
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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